The Old Bakehouse, Quality Square, Ludlow, Shropshire SY8

FOR SALE - PRICE ON APPLICATION The Old Bakehouse, A RARE OPPORTUNITY TO ACQUIRE A MIXED USE Quality Square, Ludlow, INVESTMENT WITHIN QUALITY SQUARE IN THE SOUGHT Shropshire SY8 1AR AFTER TOWN OF LUDLOW FOR SALE - ATTRACTIVE MIXED USE The Old Bakehouse, Quality Square, INVESTMENT OPPORTUNITY IN LUDLOW Ludlow Shropshire SY8 1AR

The property is located in the historic and sought after Quality Square in the centre of the town of Ludlow. Quality Square is located just off Castle Square, which serves as the prime retail position in the town of Ludlow. The surrounding occupiers include national retailers such as The White Stuff and Pizza Express as well as local occupiers such as You to Hair, Silk Hat Gallery and Pizza Two

INVESTMENT SUMMARY 1. The property is located in the centre of the sought after town of Ludlow.

2. The property is let on a Tenants Full Repairing and Insuring Lease providing approximately a further 9.5 years of secure income.

3. The property benefits from a valuable A4 Planning Consent to the commercial section of the property.

4. The property comprises two attractive self contained one/two bedroomed apartments benefiting from a self contained entrance. The premises benefit from an outside seating area within Quality The surrounding occupiers are in mixed use, with one of the 5. Further significant asset management opportunities in the Square. town's main car parks being within close proximity. future. The property also benefits from, within its ownership, two Ludlow is a sought after, established market and tourist 6. Secure rental income of £28,000 per annum. apartments that benefits from a self contained access. town, with a population of circa 11,000. It was voted in The Times recently as one of the loveliest towns to live in. The property is of traditional brick construction under a tiled roof DESCRIPTION Ludlow has a reputation for the quality of its food and drink, The property comprises an attractive three storey property located in the cover. boasting excellent bars and restaurants, encouraged by the town centre of Ludlow. The commercial part of the property trades as a SITUATION area's abundance of quality producers. restaurant/wine bar arranged over the ground and part of the first floor The property is situated fronting onto Quality Square in the town and benefits from a variety of features internally and is attractively fitted Every September the town is filled with food lovers from all centre of Ludlow. Quality Square is just off one of the main retail out. over the UK and beyond for the annual Ludlow Food and streets in the town centre and all local amenities are within close Drink Festival. proximity of the property.

HALLSGB.COM 01743 450 700 FOR SALE - ATTRACTIVE MIXED USE The Old Bakehouse, Quality Square, INVESTMENT OPPORTUNITY IN LUDLOW Ludlow Shropshire SY8 1AR

ACCOMMODATION (All measurements are approximate)

Ground Floor Restaurant/Café 78.9 sq m (847 sq ft) Comprising bar, kitchen and toilet facilities

First Floor Restaurant/Café 29.91 sq m (321 sq ft)

Accessed externally Two Flats

First Floor (Flat 1) 47.09 sq m (507 sq ft) Providing a living area, kitchen, bedroom and bathroom

Second Floor (Flat 2) 36.7 sq m (395 sq ft) Providing a living area, kitchen, 2 bedrooms and bathroom

HALLSGB.COM 01743 450 700 FOR SALE - ATTRACTIVE MIXED USE The Old Bakehouse, Quality Square, INVESTMENT OPPORTUNITY IN LUDLOW Ludlow Shropshire SY8 1AR

TENURE The premises is offered for sale freehold, subject to the existing occupational tenancy, under Property Title Number SL78616. The property is being sold subject to the following occupational lease; A lease between Parkers European Holdings Limited and Pubs & Bars Limited (subject to personal guarantees) for a term of 10 years from the 1st of November 2017. There are rent reviews every three years (with the next review being due on the 1st of November 2020). The current rent passing is £28,000 per annum. A copy of the lease is available from the selling agents upon request.

SERVICES The premises would lend themselves to a variety of uses in the COUNCILTAX (not tested at the time of our inspection.) future, subject to statutory consents Band A

We understand that all mains services are connected to the property. There is a INTELLECTUAL INFORMATION RATEABLE VALUE gas fired central heating system serving the property. There are separate meters An information pack is available upon request from the selling We have made non-verbal enquiries to the local charging authority to the commercial and residential premises of the property. agent. and we have been advised as follows: PLANNING LEGAL COSTS The property is understood not to be Listed but is located in a Conservation Rateable Value £12,500 Each party is to be responsible for the landlord's legal costs in Area. Rates Payable £6,000 respect of this transaction. The commercial section of the property is understood to benefit from planning PRICE VAT consent for A4 (Licenced Premises and Restaurant Use) under The Town and We understand that the property is currently elected for Vat. Country Use Classes Order 1987. Price upon request from the selling agents. EPC It is proposed that the sale could proceed by way of a Transfer of a The residential section of the property benefits from C3 (residential) consent. To order. Going Concern (TOGC).

HALLSGB.COM 01743 450 700 FOR SALE - ATTRACTIVE MIXED USE The Old Bakehouse, Quality Square, INVESTMENT OPPORTUNITY IN LUDLOW Ludlow Shropshire SY8 1AR

LOCAL AUTHORITY Shropshire Council, Shirehall, Abbey Foregate, Shrewsbury, Shropshire SY2 6ND Telephone: 0345 678 9000

FINANCIAL ACT 1989 Unless otherwise stated, all prices quoted are exclusive of Value Added Tax (VAT). Any intending purchaser should satisfy themselves independently as to VAT in respect of any transaction. The property is understood to be elected for VAT.

For further information or to arrange a viewing of the property, please contact:

James Evans E: [email protected] M: 07792 222028 Rebecca Welch E: [email protected] M: 07908 425525 Huw Bevan

IMPORTANT NOTICE Halls have advised their clients on the Code of Practice for Commercial Leases in England and Wales. regard. iii) Neither Halls nor any of their employees has any authority to make or give any representation or warranty Halls, for themselves and for the vendor of this property, or as the case may be, lessor whose agent they are, given notice that: whatsoever in relation to the property. iv) The images show only certain parts and aspects of the property at the time they i) These particulars are intended for guidance only. They are prepared and issued in good faith and are intended to give a fair were taken/created. Any areas, measurements or distances given are approximate only. Any plans are for identification description but do not consitute part of an over or contract. Any information given should not be relied on as a statement or purposes only. v) Any reference to alterations to, or use of, any part of the property is not a statement that any necessary representation of fact or that the property or its services are in good condition. ii) Halls have not made any investigations into planning, building regulations or other consent has been obtained. An intending purchaser must verify these matters. An the existance or otherwise of any issues concerning pollution and potential land, air and water contamination. The purchaser occupier should not rely upon the Use stated in these particulars and should check their proposed use with the relevant is responsible for making his or her own enquiries in this Planning Authority .